UPDATE 1-Computer Sciences to buy First Consulting Group
Oct 31 (Reuters) - Technology services provider Computer Sciences Corp (CSC.N: Cotización) said it agreed to buy First Consulting Group Inc FCGI.O in an all-cash deal for $13.00 a share, or about $365 million, to expand its healthcare presence in the United States, Europe and Asia.
The offer price represents a 30 percent premium to First Consulting's closing price on Tuesday of $9.98.
The deal is expected to be neutral to reported Computer Sciences' earnings and add to free cash flow within the first 12 months, the company said in a statement.
Computer Sciences said it expects the deal to be completed during the first quarter of calendar year 2008.
First Consulting provides information technology services and software products, primarily for health delivery, health plan and life sciences organizations. (Reporting by Sharangdhar Limaye in Bangalore)
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